The Government of Hungary is committed to improving entrepreneurial spirit and supporting a growth-focused business sector, as companies which operate in this sector are the determinants of the country’s economic potential and competitiveness, Deputy State Secretary for International Economic Relations Antal Nikoletti said at the European SME Week, an event held for the fifth time, this year in Bratislava, Slovakia.

The SME sector is crucial for Hungary for competitiveness, employment and trade reasons, he added at the conference, which was jointly organized by Hungary and Slovakia.

It is extremely important to prepare young people for launching their own enterprise, support them in terms of professional advice and financial facilities and – last but not least – to acknowledge their success and facilitate growth, he pointed out. To this end, the shortage of capital must addressed, and the utilization of venture capital and alternative financing methods must be promoted.

The Ministry for National Economy regularly presents outstanding companies with the Awards for Successful Enterprises, he noted. Out of EU funds available in the period 2014-2020, Hungary aims to spend HUF 490bn on improving SME competitiveness.

Antal Nikoletti also participated at a high-profile roundtable-discussion, initiated by Director for COSME Programme and SME Policy Kristin Schreiber, which focused on the education of entrepreneurs. Promoting business skills has been a priority both in Hungary and within the EU, and as of spring 2017 entrepreneurial economics as a subject will be taught in Hungarian schools.

(Ministry for National Economy)